GC Wealth Management RIA LLC Cuts Stake in MercadoLibre, Inc. $MELI

GC Wealth Management RIA LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,060 shares of the company’s stock after selling 440 shares during the period. GC Wealth Management RIA LLC’s holdings in MercadoLibre were worth $1,833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Modern Wealth Management LLC raised its stake in shares of MercadoLibre by 17.3% in the first quarter. Modern Wealth Management LLC now owns 1,201 shares of the company’s stock valued at $2,064,000 after acquiring an additional 177 shares in the last quarter. Cloverfields Capital Group LP grew its stake in MercadoLibre by 35.8% during the 1st quarter. Cloverfields Capital Group LP now owns 1,103 shares of the company’s stock worth $1,907,000 after purchasing an additional 291 shares in the last quarter. Liberty One Investment Management LLC grew its stake in MercadoLibre by 19.0% during the 1st quarter. Liberty One Investment Management LLC now owns 282 shares of the company’s stock worth $488,000 after purchasing an additional 45 shares in the last quarter. Spear Holdings RSC Ltd increased its holdings in MercadoLibre by 136.9% during the 1st quarter. Spear Holdings RSC Ltd now owns 38,688 shares of the company’s stock worth $66,892,000 after purchasing an additional 22,360 shares during the period. Finally, Bank of Nova Scotia increased its holdings in MercadoLibre by 34.0% during the 1st quarter. Bank of Nova Scotia now owns 23,351 shares of the company’s stock worth $40,381,000 after purchasing an additional 5,922 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their target price for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

MercadoLibre Stock Up 0.2%

MercadoLibre stock opened at $1,801.44 on Friday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The stock has a market cap of $91.33 billion, a PE ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. The stock’s fifty day moving average is $1,705.94 and its two-hundred day moving average is $1,815.81.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period last year, the firm earned $9.74 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.